50-1015.Account numbers required to be assigned to agreements; loanbrokers required to maintain certain records; period and manner of maintenance.(a) Each loan broker agreement shall be given an accountnumber and all instruments taken in connection with that agreement must bear this number.Each loan broker shall keep and maintain the following records or their equivalent:
(1) A loan broker agreement register that consists of a chronologicallisting of all loan broker agreements that have been entered into. For eachloan broker agreement the register shall contain the following:
(A) The account number;
(B) the date of the agreement;
(C) the name of the borrower or any proposed borrower;
(D) the amount of any fees charged; and
(E) the cost and type of any insurance required.
(2) A file for each borrower or proposed borrower shall contain the following:
(A) The name and address of the borrower or any proposed borrower;
(B) a copy of the signed loan broker agreement;
(C) a copy of any other papers or instruments used in connection withthe loan broker agreement and signed by the borrower or any proposedborrower, including a copy of the disclosure document required bysubsection (d) of K.S.A. 50-1006 that contains an acknowledgedreceipt by theborrower or any proposed borrower;
(D) if a loan was obtained for the borrower, the name and address of thecreditor;
(E) if a loan is accepted by the borrower, a copy of the loan agreement; and
(F) the amount of the loan broker's fee that the borrower has paid. Ifthere is an unpaid balance, the status of any collection efforts.
(3) All receipts from or for the account of borrowers or any proposedborrowers and all disbursements to or for the account of borrowers or anyproposed borrowers, recorded so that the transactions are readily identifiable.
(4) A general ledger that shall be posted at least monthly, and a trialbalance sheet and profit and loss statement prepared within 30 days of thecommissioner's request for the information.
(5) A copy of:
(A) All advertisements, pamphlets, circulars, letters, articles orcommunications published in any newspaper, magazine or periodical;
(B) scripts of any recording, radio or television announcement; and
(C) any sales kits or literature to be used in solicitation of borrowers.
(b) The records listed in subsection (a) shall be kept for a period ofsix years in the loan broker's principal office and must be separate orreadily identifiable from the records of any other business that isconducted in the office of the loan broker.
50-1015.Account numbers required to be assigned to agreements; loanbrokers required to maintain certain records; period and manner of maintenance.(a) Each loan broker agreement shall be given an accountnumber and all instruments taken in connection with that agreement must bear this number.Each loan broker shall keep and maintain the following records or their equivalent:
(1) A loan broker agreement register that consists of a chronologicallisting of all loan broker agreements that have been entered into. For eachloan broker agreement the register shall contain the following:
(A) The account number;
(B) the date of the agreement;
(C) the name of the borrower or any proposed borrower;
(D) the amount of any fees charged; and
(E) the cost and type of any insurance required.
(2) A file for each borrower or proposed borrower shall contain the following:
(A) The name and address of the borrower or any proposed borrower;
(B) a copy of the signed loan broker agreement;
(C) a copy of any other papers or instruments used in connection withthe loan broker agreement and signed by the borrower or any proposedborrower, including a copy of the disclosure document required bysubsection (d) of K.S.A. 50-1006 that contains an acknowledgedreceipt by theborrower or any proposed borrower;
(D) if a loan was obtained for the borrower, the name and address of thecreditor;
(E) if a loan is accepted by the borrower, a copy of the loan agreement; and
(F) the amount of the loan broker's fee that the borrower has paid. Ifthere is an unpaid balance, the status of any collection efforts.
(3) All receipts from or for the account of borrowers or any proposedborrowers and all disbursements to or for the account of borrowers or anyproposed borrowers, recorded so that the transactions are readily identifiable.
(4) A general ledger that shall be posted at least monthly, and a trialbalance sheet and profit and loss statement prepared within 30 days of thecommissioner's request for the information.
(5) A copy of:
(A) All advertisements, pamphlets, circulars, letters, articles orcommunications published in any newspaper, magazine or periodical;
(B) scripts of any recording, radio or television announcement; and
(C) any sales kits or literature to be used in solicitation of borrowers.
(b) The records listed in subsection (a) shall be kept for a period ofsix years in the loan broker's principal office and must be separate orreadily identifiable from the records of any other business that isconducted in the office of the loan broker.
50-1015.Account numbers required to be assigned to agreements; loanbrokers required to maintain certain records; period and manner of maintenance.(a) Each loan broker agreement shall be given an accountnumber and all instruments taken in connection with that agreement must bear this number.Each loan broker shall keep and maintain the following records or their equivalent:
(1) A loan broker agreement register that consists of a chronologicallisting of all loan broker agreements that have been entered into. For eachloan broker agreement the register shall contain the following:
(A) The account number;
(B) the date of the agreement;
(C) the name of the borrower or any proposed borrower;
(D) the amount of any fees charged; and
(E) the cost and type of any insurance required.
(2) A file for each borrower or proposed borrower shall contain the following:
(A) The name and address of the borrower or any proposed borrower;
(B) a copy of the signed loan broker agreement;
(C) a copy of any other papers or instruments used in connection withthe loan broker agreement and signed by the borrower or any proposedborrower, including a copy of the disclosure document required bysubsection (d) of K.S.A. 50-1006 that contains an acknowledgedreceipt by theborrower or any proposed borrower;
(D) if a loan was obtained for the borrower, the name and address of thecreditor;
(E) if a loan is accepted by the borrower, a copy of the loan agreement; and
(F) the amount of the loan broker's fee that the borrower has paid. Ifthere is an unpaid balance, the status of any collection efforts.
(3) All receipts from or for the account of borrowers or any proposedborrowers and all disbursements to or for the account of borrowers or anyproposed borrowers, recorded so that the transactions are readily identifiable.
(4) A general ledger that shall be posted at least monthly, and a trialbalance sheet and profit and loss statement prepared within 30 days of thecommissioner's request for the information.
(5) A copy of:
(A) All advertisements, pamphlets, circulars, letters, articles orcommunications published in any newspaper, magazine or periodical;
(B) scripts of any recording, radio or television announcement; and
(C) any sales kits or literature to be used in solicitation of borrowers.
(b) The records listed in subsection (a) shall be kept for a period ofsix years in the loan broker's principal office and must be separate orreadily identifiable from the records of any other business that isconducted in the office of the loan broker.
